Starting a business tin beryllium risky, particularly because half of them fail wrong nan first 5 years.
But Gary Vaynerchuk, CEO of VaynerMedia, a world institution pinch complete 1,200 employees, says that waiting to statesman tin beryllium worse than failing. Vaynerchuk is simply a serial entrepreneur worth complete $200 million who precocious launched vYve, a four-month, $50,000-per-person accelerator programme designed for entrepreneurs and firm leaders.
Related: These Are nan Best Cities for Starting a Business — and Surrounding Yourself With Millionaires
In an exclusive interview, Vaynerchuk, who goes by Gary Vee connected societal media, told Entrepreneur really to get complete "imposter syndrome" and get started connected your business goals.
What Is Imposter Syndrome?
Vaynerchuk says that fearfulness of nan financial risks of starting a business aliases emotion for illustration an imposter is wholly normal.
"Impostor syndrome is conscionable a fancy caller word, for you're insecure. And that's allowed. You're allowed to beryllium insecure, Vaynerchuk said. "We've repackaged it."
Gary Vaynerchuk. Photo: Chelsea Guglielmino/Getty Images
Related: What Is Founder Mode? Here's Why nan Phrase Is Everywhere.
Insecurity is simply a emotion that tin beryllium overwhelming but tin beryllium overcome, he says.
"My proposal to personification who wants to commencement a business is nan following: The longer you hold to not do it erstwhile you really are fresh to do it, nan much it becomes a thing," Vaynerchuk said. "The much you guidelines astatine nan separator of a excavation arsenic a 6-year-old, and fearfulness swimming, nan much you aftermath up for illustration I did, and you're 9, and you're still not swimming. That happened to maine because it started to go a point wrong itself. So my proposal is, don't beryllium delusional. Have a plan."
Better Off Trying
Vaynerchuk added that "the biggest thing" to overcoming your fears is taking nan leap successful nan first place.
In different words, you're amended disconnected starting a business, failing, and past going backmost and getting a occupation than reaching retirement and asking nan question, "Why didn't I?"
"'Why didn't I' is nan awesome poison of nan backmost half of each of our lives," Vaynerchuk explained.
The financial fears of entrepreneurship ray successful comparison to nan regret a personification whitethorn look by not jumping successful astatine all, he says.
More group whitethorn beryllium taking nan consequence and exploring entrepreneurship. New business applications were astatine an all-time precocious past year, pinch 5.5 cardinal caller applications filed.
Related: How a History Student Turned Her Side Hustle Into a Startup That's Raised $7 Million